VS
iShares Edge MSCI Min Vol EAFE Index ETF (XML) and BMO Low Volatility International Equity ETF (ZLI) offer distinct profiles for Canadian ETF investors. A direct comparison shows that XML focuses its top 3 sector exposures on Finance, Consumer Non-Cyclicals, and Healthcare, while ZLI leans towards Finance, Consumer Non-Cyclicals, and Telecommunications. When evaluating costs, XML features a management fee (MER) of 0.35%, compared to 0.4% for ZLI. Performance-wise, XML has returned 11.26% year-to-date with +$13 M in net flows, whereas ZLI is at 7.17% with +$0 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
XML
ZLI
| AuM | $52.24 M | $286.85 M |
| Management Fees | 0.35% | 0.40% |
| Exp. ratio | 0.37% | 0.45% |
| Tracking Difference | - | - |
Historical performance and flows
As of September 1, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | XML | +1.32% | +6.50% | +11.26% | +16.04% | +51.21% |
ZLI | -1.40% | +6.40% | +7.17% | +7.55% | +40.95% | |
| Flows | XML | +$1 M | +$10 M | +$13 M | +$12 M | +$12 M |
ZLI | -$3 M | -$12 M | +$0 M | -$41 M | -$169 M |
XML vs ZLI exposure
Countries
XML
Japan
27.11%
Switzerland
10.32%
United Kingdom
10.10%
Other
52.47%
ZLI
Japan
25.72%
United Kingdom
13.95%
France
9.66%
Netherlands
9.62%
Germany
8.49%
Other
32.55%
Sectors
XML
Finance
23.12%
Consumer Non-Cyclicals
13.67%
Healthcare
11.55%
Industrials
10.81%
Energy
8.91%
Telecommunications
8.34%
Other
23.60%
ZLI
Finance
22.54%
Consumer Non-Cyclicals
11.26%
Telecommunications
10.91%
Industrials
10.43%
Utilities
10.38%
Technology
9.75%
Other
24.73%
As of September 1, 2026
Top 10 Holdings
XML
SECOM Co., Ltd.
1.58%
Iberdrola SA
1.50%
Takeda Pharmaceutical Co., Ltd.
1.46%
Shell Plc
1.46%
DBS Group Holdings Ltd.
1.45%
Eni SpA
1.43%
Equinor ASA
1.42%
Novartis AG
1.40%
BOC Hong Kong (Holdings) Ltd.
1.37%
TotalEnergies SE
1.35%
ZLI
Orange SA
2.22%
Euronext NV
2.10%
Deutsche Börse AG
1.74%
Central Japan Railway Co.
1.63%
Insurance Australia Group Ltd.
1.59%
Japan Post Holdings Co., Ltd.
1.59%
SECOM Co., Ltd.
1.58%
SoftBank Corp.
1.50%
KDDI Corp.
1.48%
OBIC Co. Ltd.
1.48%
Diversification
XML
Total weight of top 10 holdings out of 254 total
14.42%
ZLI
Total weight of top 10 holdings out of 104 total
16.92%
Characteristics
Compare
XML
ZLI
| Provider | iShares | BMO |
| Management | Passively managed | Actively managed |
| Benchmark | MSCI EAFE Minimum Volatility 100% Hedged to CAD Net Total Return Index - CAD | - |
| Replication Method | ||
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 2.62% | 2.11% |
| Meets ESG criteria | No | No |
| Inception Date | April 5, 2016 | September 2, 2015 |
Frequently asked questions about XML and ZLI
Which ETF has performed better year to date: XML or ZLI?
As of September 1, 2026, XML has returned 11.26% year to date, while ZLI has returned 7.17%. XML is ahead on YTD performance.
Which ETF is larger by assets under management: XML or ZLI?
As of September 1, 2026, XML manages $52.24 M in assets, while ZLI manages $286.85 M. ZLI is the larger fund by AUM.
How are XML and ZLI managed?
XML is passively managed by iShares. It tracks the MSCI EAFE Minimum Volatility 100% Hedged to CAD Net Total Return Index - CAD benchmark. ZLI is actively managed by BMO. It does not track an index.
What sectors do XML and ZLI emphasize?
XML is most exposed to Finance, Consumer Non-Cyclicals, and Healthcare. ZLI is most exposed to Finance, Consumer Non-Cyclicals, and Telecommunications.
Which ETF is attracting more investor flows: XML or ZLI?
Year to date, XML has seen +$13.25 M in net flows, compared with +$0.07 M for ZLI. XML has attracted more net investor money so far.
How do the fees of XML and ZLI compare?
XML has an expense ratio of 0.37%, while ZLI has an expense ratio of 0.45%.
What are the top holdings of XML and ZLI?
XML's largest holdings include SECOM Co., Ltd., Iberdrola SA, and Takeda Pharmaceutical Co., Ltd.. ZLI's top holdings include Orange SA, Euronext NV, and Deutsche Börse AG.
Which ETF is more diversified: XML or ZLI?
XML holds 251 securities, while ZLI holds 104. On holdings count, XML is the more diversified portfolio.
Recent articles about XML and ZLI
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